TECHNICAL CUES-------
• MSCI India Index ETN (INP) closed at 62.3 (+1.7%)
• SGX Nifty is trading around 5100.
• Nifty made high and low of 5113 and 5052 on last trading day.
• Last swing bottom is at 4932.
• Trading above 5113, up move will continue up to 5130, 5160.
• Below 5080, correction will be seen up to 5060, 5040, 5010.
• In the medium term Nifty is in medium term up trend with targets of 5160, 5230, 5330.
• In the short term, Nifty is in short term uptrend with targets of 5042 (achieved), 5080 (achieved), 5150.
DERIVATIVE CUES----
• Nifty November future premium decreased to 5 points so cost of carry decreased. (Bearish)
• Nifty open interest increased by 4 lacs suggests short addition. (Total OI now at 3.10 cr)
• Nifty calls shed 19 lacs and puts added 5 lacs in open interest. (Bullish)
• Nifty open interest put-call ratio is at 1.60.
• 5000 puts had open interest of 52 lacs (-1%) and 5100 calls had open interest of 36 lacs (-10%), so 5000 and 5100 will be important levels to watch for.
• India VIX closed at 26.69, increased by 0.2% suggests instability. (Bearish)
• In Nifty stocks, advance-decline ratio is 29/21. (Bullish)
